Investors Purchase High Volume of Dana Put Options (NYSE:DAN)

Dana Incorporated (NYSE:DAN - Get Free Report) was the target of unusually large options trading activity on Tuesday. Traders purchased 3,947 put options on the stock. This represents an increase of 286% compared to the typical daily volume of 1,022 put options.

Dana Trading Down 9.2 %

Dana stock traded down $1.15 during mid-day trading on Friday, hitting $11.30. The company's stock had a trading volume of 2,728,013 shares, compared to its average volume of 1,610,295. The business has a 50 day moving average price of $14.91 and a 200-day moving average price of $12.22. Dana has a 12 month low of $7.58 and a 12 month high of $16.90. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -28.96, a price-to-earnings-growth ratio of 0.72 and a beta of 2.26. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.45 and a quick ratio of 0.86.

Dana (NYSE:DAN - Get Free Report) last issued its earnings results on Thursday, February 20th. The auto parts company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.15. Dana had a positive return on equity of 6.70% and a negative net margin of 0.55%. The company had revenue of $2.34 billion during the quarter, compared to analysts' expectations of $2.33 billion. As a group, analysts forecast that Dana will post 1.5 EPS for the current year.

Dana Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 28th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend was Friday, February 28th. Dana's payout ratio is -102.56%.

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Hedge Funds Weigh In On Dana

Several hedge funds and other institutional investors have recently modified their holdings of DAN. Martingale Asset Management L P purchased a new position in shares of Dana during the 3rd quarter worth approximately $346,000. Versant Capital Management Inc lifted its position in Dana by 484.6% during the 4th quarter. Versant Capital Management Inc now owns 2,695 shares of the auto parts company's stock valued at $31,000 after acquiring an additional 2,234 shares during the period. GAMMA Investing LLC grew its holdings in Dana by 118.3% in the fourth quarter. GAMMA Investing LLC now owns 2,702 shares of the auto parts company's stock worth $31,000 after purchasing an additional 1,464 shares during the period. Yousif Capital Management LLC increased its stake in shares of Dana by 2.0% during the fourth quarter. Yousif Capital Management LLC now owns 56,818 shares of the auto parts company's stock valued at $657,000 after purchasing an additional 1,130 shares in the last quarter. Finally, Great Lakes Advisors LLC lifted its holdings in shares of Dana by 103.6% during the fourth quarter. Great Lakes Advisors LLC now owns 280,798 shares of the auto parts company's stock valued at $3,246,000 after purchasing an additional 142,850 shares during the last quarter. Hedge funds and other institutional investors own 96.79% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of Dana from $13.00 to $16.00 and gave the stock a "sector perform" rating in a report on Friday, February 21st. UBS Group upped their target price on Dana from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. StockNews.com raised Dana from a "hold" rating to a "buy" rating in a report on Wednesday, March 19th. Wells Fargo & Company raised Dana from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $10.00 to $16.00 in a report on Monday, January 27th. Finally, Barclays raised their target price on shares of Dana from $18.00 to $23.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $18.50.

Dana Company Profile

Dana Incorporated, together with its subsidiaries, provides power-conveyance and energy-management solutions for vehicles and machinery in North America, Europe, South America, and the Asia Pacific. The company operates through four segments: Light Vehicle Drive Systems, Commercial Vehicle Drive and Motion Systems, Off-Highway Drive and Motion Systems, and Power Technologies.